"in descending order of rank: Historically, the Chancellor of the Exchequer was also the First Lord of the Treasury, and usually by extension Prime Minister as well. However the increasing sophistication of government spending led to the development of the chancellorship into a more refined position of finance minister, and so gradually particularised the office in a way less suitable for headship of the ministry overall. The last Chancellor-Prime Minister was Stanley Baldwin in 1923, and then only very briefly - the last substantive overlap was William Gladstone in 1880-1882. A more immediately significant trend though was the rebalancing of"
"post of First Lord of the Treasury. The dominance of Townsend and Walpole caused discontent within the party and by early 1717 both had been forced out of their positions. Townsend was replaced by Lord Sunderland, who was also Lord President of the Council and who in March 1718 became First Lord of the Treasury, effectively consolidating his position to that of a Prime Minister. For the next three years George I's ministry would be led jointly by Lord Sunderland and James Stanhope, with Townshend and Walpole in opposition. However by 1721, with Sunderland now in the House of Lords,"
"or Chancellor of the Exchequer. In Australia, the Treasurer is a senior Minister and usually the second most important member of the Government after the Prime Minister. From 1867 to 1993, Ontario's Minister of Finance was called the Treasurer of Ontario. Originally the word referred to the person in charge of the treasure of a noble; however, it has now moved into wider use. In the UK during the 17th Century, a position of Lord High Treasurer was used on several occasions as the third great officer of the Crown. Now the title First Lord of the Treasury is the"
"First Lord of the Treasury and as Lord Steward of the Household. When he died, the titles passed to his eldest son, the second Earl. He had already been summoned to the House of Lords as Lord Poulett in his father's lifetime and also served as Lord-Lieutenant of Somerset. He died unmarried and was succeeded by his younger brother, the third Earl, who had previously sat as a Member of Parliament for Bridgwater and served as Lord-Lieutenant of Devon. The third Earl's son, the fourth Earl, was Lord-Lieutenant of Somerset. He was succeeded by his eldest son, the fifth Earl."
"to his premiership in the usual way for premiers from the peerage. However when Sir Robert Peel returned to office for his non-consecutive second term he elected to be First Lord of Treasury, a title he had naturally assumed in his first ministry wherein he had also served as Chancellor. But despite being a Member of Parliament, this time Peel did not assume the chancellorship. Thus the Chancellor, Henry Goulburn, became the first Chancellor to be Second Lord of the Treasury whilst the First Lord was also in the Commons. From that point onwards, the Second Lordship was excepting where"
"to kill him. During the sixteenth century, the Lord High Treasurer was often considered the most important official of the government, and became a ""de facto"" Prime Minister. Exemplifying the power of the Lord High Treasurer is William Cecil, 1st Baron Burghley, who served in the post from 1572 to 1598. During his tenure, he dominated the administration under Elizabeth I. Since then a system has evolved which has hardly varied. Today, the First Lord of the Treasury is as a rule the Prime Minister, and the Second Lord of the Treasury is the Chancellor of the Exchequer, who has"
"behalf. Since the office evolved rather than being instantly created, it may not be totally clear-cut who was the first Prime Minister. However, this appellation is traditionally given to Sir Robert Walpole, who became First Lord of the Treasury in 1721. In 1720, the South Sea Company, created to trade in cotton, agricultural goods and slaves, collapsed, causing the financial ruin of thousands of investors and heavy losses for many others, including members of the royal family. King George I called on Robert Walpole, well known for his political and financial acumen, to handle the emergency. With considerable skill and"
"not filled continuously until 1714: the First Lord of the Treasury is the Prime Minister, the Second Lord is the Chancellor of the Exchequer, and the remaining Lords Commissioners are Government Whips. The office of Lord High Admiral was for many years also in commission, but merged with the crown in 1964 and is now an honorary appointment in the gift of the reigning monarch. HRH Prince Philip, Duke of Edinburgh (consort of the current monarch) was granted the title on his 90th birthday. The remaining officers became governmental officers: Lord Chancellor, Lord President and Lord Privy Seal are appointed"
"remained in commission for three hundred years. The Treasury Commission ceased to meet late in the 18th century but has survived, albeit with very different functions: the First Lord of the Treasury is now the Prime Minister, the Second Lord is the Chancellor of the Exchequer (and actually in charge of the Treasury), and the Junior Lords are government Whips maintaining party discipline in the House of Commons; they no longer have any duties related to the Treasury, though when subordinate legislation requires the consent of the Treasury it is still two of the Junior Lords who sign on its"
"the Treasury was called the Lord Treasurer. Starting in Tudor times, the Lord Treasurer became one of the chief officers of state, and competed with the Lord Chancellor for the principal place. In 1667, Charles II of England was responsible for appointing George Downing, the builder of Downing Street, to radically reform the Treasury and the collection of taxes. The Treasury was first put in commission (placed under the control of several people instead of only one) in May or June 1660. The first commissioners were the Duke of Albermarle, Lord Ashley, (Sir) W. Coventry, (Sir) J. Duncomb, and (Sir)"
"Leader of the House of Commons. Portland was elderly and ailing, and on his resignation in October 1809, Perceval succeeded him as First Lord of the Treasury—the formal title by which prime ministers were then known—after a wounding internecine leadership struggle. In addition to his duties as head of the government he retained the Chancellorship, largely because he could find no minister of appropriate stature who would accept the office. Perceval's government was weakened by the refusals to serve of former ministers such as George Canning and William Huskisson. It faced massive problems at a time of considerable industrial unrest"
"Lord Stanhope and Lord Sunderland. Walpole had dabbled in the speculation himself but was not a major player. He rose to the challenge, as the new First Lord of the Treasury, of resolving the financial and political disaster. The economy was basically healthy, and the panic ended. Working with the financiers he successfully restored confidence in the system. However, public opinion, as shaped by the many prominent men who had lost so much money so quickly, demanded revenge. Walpole supervised the process, which removed all 33 company directors and stripped them of, on average, 82% of their wealth. The money"
"dated to his appointment as First Lord of the Treasury in 1721. His brother-in-law Lord Townshend served as Secretary of State for the Northern Department and controlled the nation's foreign affairs. The two also had to contend with the Secretary of State for the Southern Department, Lord Carteret. Townshend and Walpole were thus restored to power and ""annihilated the opposing faction"". Under the guidance of Walpole, Parliament attempted to deal with the financial crisis brought on by the South Sea Bubble. The estates of the directors of the South Sea Company were used to relieve the suffering of the victims,"
"by secretaries of state, who have substantial budgets voted to them by Parliament."" 10 Downing Street 10 Downing Street, colloquially known in the United Kingdom as Number 10, is the headquarters of the Government of the United Kingdom and the official residence and office of the First Lord of the Treasury, a post which, for much of the 18th and 19th centuries and invariably since 1905, has been held by the Prime Minister of the United Kingdom. Situated in Downing Street in the City of Westminster, London, Number 10 is over 300 years old and contains approximately 100 rooms. A"
"Treasury A treasury is either The head of a treasury is typically known as a treasurer. This position may not necessarily have the final control over the actions of the treasury, particularly if they are not an elected representative. The adjective for a treasury is normally treasurial. The adjective ""tresorial"" can also be used, but this normally means pertaining to a ""treasurer"". The earliest found artefacts made of silver and gold are from Lake Varna in Bulgaria dated 4250–4000 BC, the earliest of copper are dated 9000–7000 BC. The term ""treasury"" was first used in Classical times to describe the"
"Lords Commissioners of the Treasury In the United Kingdom there are at least six Lords Commissioners of Her Majesty's Treasury, serving as a commission for the ancient office of Lord High Treasurer. The board consists of the First Lord of the Treasury, the Second Lord of the Treasury, and four or more junior lords to whom this title is usually applied. Strictly they are commissioners for exercising the office of Lord High Treasurer (similar to the status of the Lords Commissioners of the Admiralty exercising the office of Lord High Admiral until 1964, when the Queen resumed the office). This"
"to the Middle Temple on 30 May 1660, but was not Called to the Bar. Following the Restoration, he sat as member of parliament, first for Newport, Cornwall and later for the University of Oxford, from 1660 to 1679. In 1661, he was sent on a complimentary embassy to Louis XIV of France, while he held the court post of Master of the Robes from 1662 to 1675. Having returned to England, he entered the new parliament, which met early in 1679, as member for Wootton Bassett; in November 1679 he was appointed First Lord of the Treasury, and for"
"dignity later became a permanent position with circumscribed legal powers. The first office-holder of the royal treasury is generally regarded by the relevant historiography to have been Paul Magyar, whom king Charles I called his royal treasurer () for the first time in 1340. Magyar initially acted as the deputy of Thomas Szécsényi, the then Voivode of Transylvania, who also took the Master of the treasury's financial tasks as ""procurator"" (thus acting official) following the death of the influential and innovative Demetrius Nekcsei (died in 1338). According to this widely accepted theory, Szécsényi was unable to perform the two functions"
"Service). Lords Commissioners of the Treasury In the United Kingdom there are at least six Lords Commissioners of Her Majesty's Treasury, serving as a commission for the ancient office of Lord High Treasurer. The board consists of the First Lord of the Treasury, the Second Lord of the Treasury, and four or more junior lords to whom this title is usually applied. Strictly they are commissioners for exercising the office of Lord High Treasurer (similar to the status of the Lords Commissioners of the Admiralty exercising the office of Lord High Admiral until 1964, when the Queen resumed the office)."
"First Lord of the Treasury, requiring a by-election. Notable result as Arthur Balfour had led the Conservative Party into the 1906 General Election as leader. He therefore became the first leader of the opposition to lose his seat. General Election 1914/15: Another General Election was required to take place before the end of 1915. The political parties had been making preparations for an election to take place and by July 1914, the following candidates had been selected; Election Results: Horridge: Sutton: Manchester East (UK Parliament constituency) Manchester East was one of six single-member parliamentary constituencies created in 1885 by the"
"Robert Walpole as the inaugural holder), it has been typical for the incumbent to assume also the position of First Lord of the Treasury. None of the other Lords of the Treasury work for the Treasury in a substantive sense. Rather they are government whips, given nominal positions in the Treasury to enable them to be suitably remunerated as members of Her Majesty's Government. The flexibility of the Commission of the Lord High Treasurer is suitably flexible for the government's whip operation because there are no fixed number of spaces on the Commission. Ironically however the Chief Whip himself is"
"Crown a leadership role in the Commons; and, the Lord Treasurer assumed a leading position among Ministers. The power of financial initiative was not, however, absolute. Only Ministers might initiate money bills, but Parliament now reviewed and consented to them. Standing Order 66 therefore represents the beginnings of Ministerial responsibility and accountability. The term ""Prime Minister"" appears at this time as an unofficial title for the leader of the government, usually the Head of the Treasury. Jonathan Swift, for example, wrote in 1713 about ""those who are now commonly called Prime Minister among us"", referring to Sidney Godolphin, 1st Earl"
"government as a whole. Indeed even after decades of the emergence of the Prime Ministership William Pitt the Younger proferred that the Prime Minister ""ought to be the person at the head of the finances."" The two exceptions were Lord Chatham and Lord Salisbury. During Chatham's ministry of 1766-68 he occupied the office of Lord Keeper of the Privy Seal instead. Lord Salisbury became First Lord neither during his first term (1885-1886) nor his third (1985-1902), though he did become First Lord for the first two years of his second ministry (1886-1892). Since Salisbury, the two roles have become completely"
"grouping while Walpole and Townshend opposed them. In 1717, consequent on changes in the ministry, Stanhope was made First Lord of the Treasury, and was the last Chancellor of the Exchequer to sit in the House of Lords. A year later he returned to his former office of secretary for the southern department. On 3 July 1717, he was created Baron Stanhope of Elvaston and Viscount Stanhope of Mahon and, on 14 April 1718, Earl Stanhope. He was in all but name ""Prime Minister"" and is sometimes presented as the first Prime Minister of Great Britain, rather than Sir Robert"
"Lord of the Treasury, only to find that it had been conferred on Henry Pelham. On 10 February 1746, Pelham's administration resigned ""en masse"", and the king turned to Bath to form an alternative ministry. He accepted the seals of office and made nominations to the most senior posts, but it quickly became clear that he did not have enough support to form a viable government, and after ""48 hours, three quarters, seven minutes, and eleven seconds"" he abandoned the attempt, forcing the king to accept Pelham's terms for resuming office. As the office of Prime Minister did not then"
"to as ""one of the most delicious comedies in British political history"". Whereas in the past it had never been used formally, Campbell-Bannerman was the first First Lord of the Treasury to be given official use of the title ""Prime Minister"", a standard that continues to the present day. In 1907, by virtue of being the Member of Parliament with the longest continuous service, Campbell-Bannerman became the Father of the House, the only serving British Prime Minister to do so to date. In his election address, Campbell-Bannerman spoke in favour of reforming the poor law, reducing unemployment and improving working"
"the Secretary of the Treasury, who is a member of the Cabinet. Senior advisor to the Secretary is the Treasurer of the United States. Signatures of both officials appear on all Federal Reserve notes. The first Secretary of the Treasury was Alexander Hamilton, sworn into office on September 11, 1789. Hamilton was appointed by President George Washington on the recommendation of Robert Morris, Washington's first choice for the position, who had declined the appointment. Hamilton established—almost singlehandedly—the nation's early financial system and for several years was a major presence in Washington's administration. His portrait appears on the obverse of the"
"Lord of the Treasury in 1717, been created Baron Stanhope of Elvaston and Viscount Stanhope of Mahon on 3 July 1717, returned to his former office of Secretary of State for the Southern Department in 1718, having been further elevated, to Earl, just eight days before Fane, on 14 April 1718. He stood unsuccessfully for Berkshire in the election of 30 August 1727. At the poll Fane (1319 votes) was beaten into third place by Robert Packer (1620 votes), a distant ancestor of the late Kerry Packer, and by Sir John Stonhouse (1558 votes). Fane married at the Chelsea Hospital,"
"of the Treasury (1830–1934), and is now the Office of the General Counsel. Comptroller of the Treasury The Comptroller of the Treasury was an official of the United States Department of the Treasury from 1789 to 1817. According to section III of the Act of Congress establishing the Treasury Department, it is the comptroller's duty to The first person to hold this office was Oliver Wolcott, Jr.. It was also held for a time by Gabriel Duvall, who would later serve on the Supreme Court of the United States. The office was later several times renamed. It was the First"
"since 1421), the Lord Chancellor, the Archbishop of York and the Archbishop of Wales. Next come the Prime Minister as the First Lord of the Treasury, the Lord President of the Privy Council, the Speaker of the House of Commons, the Lord Speaker of the House of Lords (since July 2006), the President of the Supreme Court of the United Kingdom (since October 2009), the Lord Chief Justice of England and Wales (since November 2007) and the Lord Privy Seal. The precedence of the Lord Great Chamberlain, the Earl Marshal, the Lord Steward and the Lord Chamberlain are determined by"
"of Orange to invade England. The disposition of the cold and cautious William had little in common with the fierce and turbulent Mordaunt. His plan was rejected, though the prudent prince of Orange deemed it judicious to retain his services. When William sailed to Torbay his friend accompanied him, and when the Dutch prince was safely established on the throne of England, honours without stint were showered upon Lord Mordaunt. He was sworn to the privy council on 14 February 1689, on 8 April of the same year appointed First Lord of the Treasury, and a day later advanced in"
"powers"": the Sovereign's Ministers (the Executive) became leading members of Parliament (the Legislature). Today the Prime Minister (First Lord of the Treasury), the Chancellor of the Exchequer (responsible for The Budget) and other senior members of the Cabinet sit on the Treasury bench and present policies in much the same way Ministers did late in the 17th century. After the Revolution, there was a constant threat that non-government members of Parliament would ruin the country's finances by proposing ill-considered money bills. Vying for control to avoid chaos, the Crown's Ministers gained an advantage in 1706, when the Commons informally declared,"
"he secured in April 1717 the position of Secretary of State for the Northern Department. This he retained until March 1718, when he became First Lord of the Treasury, holding also the post of Lord President of the Council. He was now effectively the prime minister. Sunderland was especially interested in the proposed peerage bill, a measure designed to limit the number of members of the House of Lords, but this was defeated owing partly to the opposition of Sir Robert Walpole. In 1719 he was one of the main subscribers in the Royal Academy of Music (1719), a corporation"